Iowa ends fiscal year with better-than-expected revenues

Iowa ended the June 30th fiscal year with $54.5 million in revenue collections above what had been estimated, according to a new state fiscal video.

An earlier projection called for revenue to increase for five percent, but that was beat by one percentage point, the new video shows. In total, the state collected $329.3 million more than the previous fiscal year, according to preliminary cash totals.

The final account of the previous year’s budget is unknown largely because the books remain open as state officials continue to account for expenses or revenue collections that can be attributed to the most recently completed fiscal year. The final ledgers will be closed in late September, which is a common practice for the state.

Click below to see the presentation of the new revenue numbers by Jeff Robinson, senior fiscal analyst for the LSA. (The video was produced by Craig Cronbaugh, director of the Legislative Information Office.)